Renaissance Technologies LLC Reduces Position in ICL Group Ltd (NYSE:ICL)

Renaissance Technologies LLC decreased its holdings in shares of ICL Group Ltd (NYSE:ICL - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230,176 shares of the basic materials company's stock after selling 146,400 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of ICL Group worth $6,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in ICL Group by 85.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,072 shares of the basic materials company's stock valued at $717,000 after buying an additional 66,933 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ICL Group by 2.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,362,914 shares of the basic materials company's stock valued at $41,336,000 after purchasing an additional 219,101 shares during the period. Meitav Investment House Ltd. increased its position in ICL Group by 21.3% during the fourth quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company's stock worth $101,391,000 after purchasing an additional 3,606,357 shares during the last quarter. M&T Bank Corp purchased a new position in ICL Group during the fourth quarter worth approximately $65,000. Finally, XTX Topco Ltd acquired a new position in shares of ICL Group in the 3rd quarter valued at $126,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ICL shares. BMO Capital Markets increased their target price on ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a research report on Thursday, February 27th. Barclays raised their price objective on ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, StockNews.com cut ICL Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th.

ICL Group Stock Up 1.6 %

ICL Group stock traded up $0.11 during trading on Thursday, reaching $6.69. 248,520 shares of the company's stock were exchanged, compared to its average volume of 790,476. The company's 50-day moving average is $6.03 and its two-hundred day moving average is $5.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. ICL Group Ltd has a 52-week low of $3.79 and a 52-week high of $6.69. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 7.10 and a beta of 1.18.

ICL Group (NYSE:ICL - Get Free Report) last posted its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. On average, analysts predict that ICL Group Ltd will post 0.37 earnings per share for the current year.

ICL Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.0403 per share. This is a boost from ICL Group's previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, March 12th. ICL Group's payout ratio is presently 50.00%.

ICL Group Profile

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.